Hi there
What we need first is the book value of the equipment
The book value is
originally costing - accumulated depreciation
100,000−65,000=35,000

Since the sale price is 40000 and the book value is 35000 This result a gain of 5000 (40000-35000)

Good luck!

4 0

3 years ago

Compared to a command and control government approach to reducing pollution, a market-based system of tradable pollution allow

Alex17521 [72]

a. more efficient because polluters that can only reduce pollution at high cost do not and instead buy allowances.

6 0

3 years ago

The rate on T-bills is currently 5%. P. Tree Company stock has a beta of 1.69 and a required rate of return of 15.4%. According

Musya8 [376]

Answer:

11.15%

Explanation:

Given that

Risk free rate of return= 5%

Beta = 1.69

Expected rate of return = 15.4%

As per capital asset pricing model

Expected rate of return = Risk free rate of return + Beta × (Market rate of return - risk free rate of return)

15.4% = 5% + 1.69 × (Market rate of return - 5%)

After solving this

Market rate of return = 11.15%

8 0

3 years ago

Tim is a single, cash-method taxpayer with an AGI of $50,000. In April of this year, Tim paid $1,100 with his state income tax r

Ivan

Answer:

The amount of taxes that Tim can deduct as an itemized deduction is $7,340

Explanation:

The computation of the itemized deduction is shown below:

= State income tax for the previous year + state income tax from his salary + estimated payments of state income tax

= $1,100 + $5,050 + $1,190

= $7,340

The other item values which are mentioned in the question are not considered and not affect the deductions for current year So, we do not take in the computation part. Hence, ignored it

8 0

2 years ago